Deposit Takers Act 2023

Licensing of deposit takers - Cancellation

55: Notice of cancellation

You could also call this:

"Telling people when a licence is cancelled"

Illustration for Deposit Takers Act 2023

When a licence is cancelled, the Bank must tell people about it as soon as possible. The Bank does this by putting a notice on their website. You can find this notice on the Bank's Internet site.

If the licence is cancelled for certain reasons, like those listed in section 53(1)(a) to (c), the Bank must also tell the person who had the licence. The Bank must give this person notice of the cancellation. This is in addition to putting the notice on their website.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS492656.


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54: Process for cancelling licence, or

"How the Bank cancels a licence: a step-by-step process"


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56: Appeals against licensing and fit and proper decisions, or

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Part 2Licensing of deposit takers
Cancellation

55Notice of cancellation

  1. The Bank must, as soon as practicable after cancelling a licence held by a person (A), give—

  2. notice of the cancellation on the Bank’s Internet site; and
    1. in the case of a cancellation under section 53(1)(a) to (c), notice of the cancellation to A.